Modern Liberal Capitalist Economies Adaptation to Environmental Challenges - Report Example

Title: Modern Liberal Capitalist Economies and Environmental Challenges Date: Course: Modern Liberal Capitalist Economies adaptation to environmental challenges Introduction Environmental factors are the main cause of significant burden of disability, disease and death in modern liberal capitalist economies. Weak regulations can be a cause of concern for liberal capitalist economies. Economic growth cannot overlook the series challenge of environmental degradation. Environmental protection has to be a priority because the future of the country. There a strong feeling in developing countries that environment protection is a major concern of pollution (Arthur, 2003). Environmental protection is necessary for future generation survival. Countries have to put in place mechanisms that will ensure environmental conservation for the survival of its people. Global warming and climatic change are as a result of environmental challenges in the fast growing economies. Effects of climatic changes have been felt far and wide across the entire world. Without proper regulation, environmental changes can weigh heavily on a country’s development (Siebert, 2004). Environmental degradation is a major cause of violence and conflict. Environmental issues are complex but crucial. Modern liberal capitalist economies have to adapt to challenges of environmental problems. Adaptation policies have to be clear and understood by all stakeholders prior to starting business. Creating awareness about the challenges caused by environmental degradation and sensitizing the population is important. This essay discusses modern liberal capitalist economies and their adaptations to environmental challenges. Adaptation to environmental challenges by modern liberal capitalist economies Atmospheric environmental challenges are increasingly crucial for industrializing nations in the developing world. Emission of greenhouse gases in developing countries continue to increase as industrial, urban and transportation sectors advance largely depending on energy from fossil fuel. The concerns about environmental challenges has forced liberal capitalist economies to put up policies that will help their environments be conserved while pursuing economic growth objectives (Barrow, 2006). Economic liberalization can be a threat to local environmental conservation efforts without proper legislation to protect the environment. Ecological sustainability can be achieved through environmental conservation initiatives. Constitutionalism of policies defines the rights of citizens in the wake of economic development initiatives (Kamieniecki, 1993). Profit maximization mentality of corporations sometimes makes them to overlook environmental conservation initiatives. Opening up the economy without control to foreign business can be dangerous to the local environment. Laws, regulations and policies have to be put in place to ensure that the environment has to be conserved. Liberal capitalist economies can face the risk of industrialized countries using them as a dumping site for low standard products. China, Brazil and India are some first growing economies with increasingly liberalized economies. China has continued to open its borders to international trade (Cutter, 2006). China is a major figure in the category of the emerging economies. Economic liberalization should not spell doom for industrializing economies but should be a way of fostering growth and development. Resources are being set aside for environmental conservation efforts. The variety of threats to modern society ranging from increasing stresses, energy and food insecurity, peak oil, rising inequalities in and between societies, growing passivity of citizens in democracies and the rise of corporate power can be summed as unsustainable development. Politics of sustainability have been on the rise in the 21st century (Barrow, 2006). Environmental problems are increasing in the modern liberal capitalist economies due to liberal policies that are meant to increase trade and economic growth. Environmental problems are as a result of increasing poverty compounded by demographic pressure. Acceleration in development is another challenges poses risks to the environment. The threat of increased pollution is real as companies grapple in efficiency to increase production and be competitive. Modern liberalization also carries many risks that call for careful economic management using appropriate regulations instituted by governments. Protection for domestic companies is required in order not to expose them to international competition (Chapman, 2000). Financial crisis of modern liberal capitalist economies can lead to negligence of environmental policies. Fast growing economies have policies that protect their environments from degradation. Green constitutionalism has the possibility of becoming a critical element of the attainment of the triple bottom-line of sustainability hence attaining economic, social, and economic objectives. Constitutionalism is a course of securing green objectives in liberal democracy without some of the challenges common with deliberative democratic mechanisms where green goals are usually exposed (Siebert, 2004). Constitutionalism offers an avenue of enacting environmental rights, offering legal standing of non-human interests, and coming up with the precautionary principle. Entrenching environmental rights in countries’ constitutions is for a broader purpose than merely offering protection of the environment using legal means. One consequence of environmental human rights can be mandating of several procedural rights like rights to be informed of suggested or proposed development in a specific local area, rights to freedom of association or assembly to protest against harmful developments, rights to information concerning environmental impact assessments, and rights to self-determination even rights to take part in decision-making forums (Barrow, 2006). Recognition of such rights legally would have a positive effect on environmental decision-making procedures, facilitate environmental justice, and enhance ethics of custodianship and all key elements of a society that is sustainable. Such actions will serve as a consolidation of essential aims targeting environmental protection as being part of public interest and not a partisan cause. Constitutional provisions can offer regulation of economic actors like corporations and legal definition of main economic relations like private property. Despite the need of rapid economic growth, liberal capitalist economies have to ensure sustainability so that the future of the citizens is secured (Siebert, 2004). Many first world nations have followed the path of economic liberalization in the recent decades with the main objective of increasing or maintaining their competitiveness as business environments. Policies of liberalization comprise of partial or complete privatization of government enterprises and assets, lower rates for businesses, greater flexibility in the labour market, open markets, less restriction on both foreign and domestic capital. In developing nationals, economic liberalization translates to opening up of their economies to foreign capital as well as investments (Cutter, 2006). A decentralized and democratic state is viewed as a necessary institution to promote sustainability common good. The environment has to be conserved future generations. Lobby group must have the right to assess environmental degradation and rise an alarm in case there is destruction of the environment that cannot be restored and conserved for future generations. Conclusion Economic liberalization was meant to increase economic growth and development of developing economies. Increased industrialization has caused unprecedented problems of environmental concerns. Modern liberal capitalist economies have no option but to deal with challenges of environmental degradation for the sake of current and future population. Laws, regulations and policies targeting environmental conservation have been developed in these economies. Liberalization of the economy with control can cause a great risk to the local environment owing to businesses focusing on profit maximization. The rights of people towards environmental conservation have to be engraved in the constitution in order to allow accountability and responsible behavior of corporations and government agencies. Countries like India and China has to work more in conservation of the environmental. Liberal capitalist economies can be adversely affected adversely by the liberal policies targeting to open up their economies. Environmental degradation is the main cause of concern as an immediate impact of increased economic activities in the country. Countries have to protect their environments from destruction for future generations. The livelihoods of people depend on a sustainable environment that can endure the pace of economic growth and development. Unsustainable economic activities can adversely hurt in the development of a country in the long run. Vigilance and proactive measures have to be used to deal with greenhouse effect. References Arthur, J.M. (2003). Globalization and Environmental Reform: The Ecological Modernization of the Global Economy, New York: MIT Press. Cutter, S. (2006), Hazards, Vulnerability and Environmental Justice, London: Earthscan. Chapman, D. (2000) Environmental Economics: Theory, Application, and Policy, London: Addison-Wiley. Barrow, C. (2006). Environmental Management for Sustainable Development, New York: Routledge. Dauvergne, P. (2005). Handbook of Global Environmental Politics, Melbourne: Edward Elgar Publishing. Kamieniecki, S. (1993). Environmental Politics in the International Arena: Movements, Parties, Organizations, and Policy, New Jersey: SUNY Press. Siebert, H., (2004). Economics of the Environment: Theory and Policy, Springer Verlog, Read More